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13 Mar 2013
Forex: USD/JPY hovering over 96.00
The USD/JPY regained the 96.00 level and has spent the last hours hovering over that level, as the greenback received a boost following strong US retail data.
USD/JPY peaked at 96.24 but lacked momentum too rise beyond that level and settled inside a narrow range within the last hours. At time of writing, the pair is trading around 96.10/15, just a few pips above its opening price.
In terms of technical levels, if the cross manages to rise above 96.25, next resistances could be found at 96.70 (Mar 12 high) and 97.00 (psychological level). On the flip side, supports are seen at 95.45 (intraday low), 95.10 (Mar 7 high) and 94.60 (200-hour SMA).
USD/JPY peaked at 96.24 but lacked momentum too rise beyond that level and settled inside a narrow range within the last hours. At time of writing, the pair is trading around 96.10/15, just a few pips above its opening price.
In terms of technical levels, if the cross manages to rise above 96.25, next resistances could be found at 96.70 (Mar 12 high) and 97.00 (psychological level). On the flip side, supports are seen at 95.45 (intraday low), 95.10 (Mar 7 high) and 94.60 (200-hour SMA).